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6901 Rockledge Dr, Bethesda, MD 20817
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Construction
BRICK
Total area
195,550 SF
Lot
15.34 ac (668,091 SF)
Zoning code
CR1.5
APN
04-01971981
UPID
US40-0301998
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Nuclear Power Company
-
Parking Lot & Garage
-
Loan Service Bank
-
Financial Advisor
-
Real Estate Agency
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$39.22M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$60.86M
Owner & transaction history
since 2025
Last sale
$69.5M
5 recorded transactions
Zoning & alternative use
CR1.5 · Bethesda, MD
Top alternative use upside
Industrial (general)
$93.2M
+16.2%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 6 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$60.86M
Value range
$54.77M – $66.95M
±10% around blend
Estimated value / SF
$311 / SF
Confidence
High
6 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
60
$54.77M
blend $60.86M
$66.95M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
195,550 SF
Lot area
15.34 ac
Year built
1984
Stories
9
APN
04-01971981
Zoning
CR1.5
Assessed value
$106,814,300
Annual tax
$1,323,895
3
Income approach: direct capitalization
Partial preview
Income approach indication
$39.22M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$42.49M
@ 6.5% CAP return
$39.22M
@ 7% CAP return
$36.42M
4
Sales comparison
Partial preview
Sales approach indication
$8.89M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
6.6 mi away · 140,244 SF
8.4 mi away · 239,241 SF
8.4 mi away · 239,241 SF
9.2 mi away · 202,500 SF
9.9 mi away · 195,480 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$60.86M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 25 sales
$410
-24%
County 255 sales
$317
-2%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $311/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Industrial (general)
Gross theoretical uplift
+16%
vs current-use indication
Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
2.30%
Implied, in-place cap rate for this office buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$4.87M *
Last sale · Mar 2025
$69.50M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$211.52M
Move the market yield to see immediate price impact.
Value / SF
$1,082
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
1.80%2.30%2.80%
$4.38M
$243.25M
$190.37M
$156.38M
$4.87M
$270.28M
$211.52M
$173.75M
$5.35M
$297.31M
$232.67M
$191.13M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$26.00M
5.2 mi · Sep 2025 · $171/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$1,323,895
Tax year 2022
Assessed value
$106,814,300
Assessed 2023
Previous assessed
$115,000,000
-7.1% YoY
Effective rate
1.24%
On assessed value
Assessed land
$20,650,600
Assessed improvement
$86,163,700
Land market value
$20,650,600
Improvement market value
$86,163,700
Total market value
$106,814,300
Applied tax rate
38.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1984
Construction
BRICK
Heating
YES
Cooling
YES
Buildings
3
Stories
9
Units
3
Total area
195,550 SF
Lot
15.34 ac (668,091 SF)
Zoning code
CR1.5
APN
04-01971981
UPID
US40-0301998
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
CR1.5 · Bethesda, MDZoning CR1.5 · permitted uses
CR1.5 · Bethesda, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
9
Buildings
3
Units
3
Lot
15.34 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CR1.5
Jurisdiction
Bethesda, MD
Recorded code
CR1.5
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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